Legalization of Bitcoin in Ukraine

Legalization of Bitcoin in Ukraine

The main issue “when legalize cryptocurrency” on which very many try to find the answer since the beginning of the 2010th when the cryptomarket began active growth, in many countries so so far and is groundless. All of us look forward that it was possible to perform cryptocurrency transactions officially: exchange, purchase sale and finally to maynit.
For now (May, 2018) the cryptocurrency in the territory of Ukraine isn’t forbidden, but also not resolved officially. But it didn’t prevent, by the way, Ukraine to appear in the TOP of 15 leading countries on implementation of technology a blockchain, according to data from the report at the World Economic Forum in Davos at all.

By the way, What is a blockchain, read in our article What is the Blockchain

In 2017 a number of People’s Deputies registered in the Verkhovna Rada two bills – No. 7183 and No. 7183-1 where suggested to legalize cryptocurrency turnover in Ukraine. But on it the question also hanged.
Later, in the 2017th the deputy head of the National Bank of Ukraine Oleg Chury commented on a line item of National Bank on it the account. “We can tell that it is definitely not currency because there is no central issuer. And we can’t recognize it as means of payment” – he told.
Considering that the Ukrainian legislation gradually approaches the European regulations, to calculate that Ukraine in this sense will make autonomous decisions, it isn’t necessary.

What to do?

Whether shall stop all this you from the aspiration to earn from cryptocurrency? No way! Why? About it further →

Is it profitable to mining in Ukraine

The answer can be only one: of course and!

According to the data from the analysis of the American edition International Business Times, Ukraine took the 4th place on benefit of a mining on the example of Bitcoin. Considering specifics “estimates, among 115 countries of the world the countries with the lowest fares on the electric power got to the first five.

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So Venezuela where average cost of costs for 1 Bitkoin’s production equals only $531 got the first place. The second, with estimated value of production the bitka in $1190, became Trinidad and Tobago.
Result of Ukraine – $1852 of costs for production of 1 coin of Bitcoin.
South Korea where production of one bitcoin on costs will exceed considerably the present cost of this currency appeared the most expensive country in this sense. Just ponder, $26 170 for one bitok … That is more than in 14 times more.
By the way, the USA was located closer to the middle of rating with estimated value of $4758 costs for electricity for production of 1 Bitcoin.

Not Bitcoin single…

If to distract a little from the most sensational technology from the world a blockchain, namely Bitcoin, then it turns out that there are many spheres where it is possible to apply these transaction types. Moreover, they can help to solve some problems much quicker, than earlier. That is a blockchain as technology, much more perspective, from the practical point of view.
For example, for verification of documents digital means. In such scheme the technology a blockchain is a link between unique parameters of the document and the approved record in a chain of blocks of data.
Besides, the blokchena is promised by serious prospects in:

  • platforms of financial services
  • loyalty programs of the different companies
  • systems of motivation and employee scheduling
  • author’s right
  • transactions with goods and raw materials
  • data management
  • technologies of electronic vote

and many other…


Recently even provided to Porsche a blockchain decision for the cars which several times accelerates an unblocking of the car and interaction with external services and devices. But that’s another story 🙂

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